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Farm Aid Bill Passes Congress With 3.1 Billion Price Tag
The FY03 Omnibus Appropriations Bill grants 3.1 billion for crop loss assistance to farmers and ranchers harmed by drought in 2001 and 2002. Provisions cap benefits per person and set an overall limit equal to the difference between 95 percent of normal crop value and actual revenue plus indemnities. Eligible losses start at 35 percent of normal production with payments at 50 percent for insured crops and 45 percent for noninsured crops. Cotton and cottonseed provisions receive specific attention and funding.
MENTIONED IN THIS ARTICLE
Congress
Shawn Wade
Bush Administration
PCG
USDA
Congressional
Farm Service Agency